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<Research>CICC: ANTA SPORTS (02020.HK) Acquisition of Puma Stake Expected to Enhance Int'l Competitiveness; TP $110.91
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ANTA SPORTS (02020.HK)'s consideration for the acquisition of PUMA is considered reasonable in view of the long-term value of the brand, CICC released a research report saying. The broker believed that Puma will enrich ANTA SPORTS' brand portfolio and complement its multiple brands across multiple dimensions such as product mix and regional presence, potentially further enhancing ANTA SPORTS' overall international competitiveness. CICC kept its rating at Outperform on ANTA SPORTS, with a target price of $110.91, and maintained its 2025 EPS forecast at RMB4.71. Considering the lower interest income from the acquisition and Puma's short-term losses, the broker reduced its 2026/ 2027 EPS forecasts for ANTA SPORTS by 5%/ 8% to RMB4.76/ RMB5.04, respectively. AASTOCKS Financial News Website: www.aastocks.com |
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